Fact Sheet

The P5+1 (the United States, United Kingdom, Germany, France, Russia, and China, facilitated by the European Union) met with Iran in Geneva to discuss a diplomatic resolution regarding Iran's nuclear program. They released an initial plan of action November 24, 2013. The State Department released updates on January 12, 2014, and on July 22, 2014.

Iran would undertake the following voluntary measures:

From the existing uranium enriched to 20%, retain half as working stock of 20% oxide for fabrication of fuel for the TRR. Dilute the remaining 20% UF6 to no more than 5%. No reconversion line.

Iran announces that it will not enrich uranium over 5% for the duration of the 6 months.

Iran announces that it will not make any further advances of its activities at the Natanz Fuel Enrichment Plant, Fordow, or the Arak reactor, designated by the IAEA as IR-40.

Beginning when the line for conversion of UF6 enriched up to 5% to UO2 is ready, Iran has decided to convert to oxide UF6 newly enriched up to 5% during the 6 month period, as provided in the operational schedule of the conversion plant declared to the IAEA.

No new locations for the enrichment.

Iran will continue its safeguarded R&D practices, including its current enrichment R&D practices, which are not designed for accumulation of the enriched uranium.

No reprocessing or construction of a facility capable of reprocessing.

Enhanced monitoring:

Provision of specified information to the IAEA, including information on Iran's plans for nuclear facilities, a description of each building on each nuclear site, a description of the scale of operations for each location engaged in specified nuclear activities, information on uranium mines and mills, and information on source material. This information would be provided within three months of the adoption of these measures.

Submission of an updated DIQ for the reactor at Arak, designated by the IAEA as the IR-40, to the IAEA.

Steps to agree with the IAEA on conclusion of the Safeguards Approach for the reactor at Arak, designated by the IAEA as the IR-40.

Daily IAEA inspector access when inspectors are not present for the purpose of Design Information Verification, Interim Inventory Verification, Physical Inventory Verification, and unannounced inspections, for the purpose of access to offline surveillance records, at Fordow and Natanz.

In return, the E3/EU+3 would undertake the following voluntary measures:

Pause efforts to further reduce Iran's crude oil sales, enabling Iran's current customers to purchase their current average amounts of crude oil. Enable the repatriation of an agreed amount of revenue held abroad. For such oil sales, suspend the EU and U.S. sanctions on associated insurance and transportation services.

Suspend U.S. and EU sanctions on:

Iran's petrochemical exports, as well as sanctions on associated services.

Gold and precious metals, as well as sanctions on associated services.

Suspend U.S. sanctions on Iran's auto industry, as well as sanctions on associated services.

License the supply and installation in Iran of spare parts for safety of flight for Iranian civil aviation and associated services. License safety related inspections and repairs in Iran as well as associated services.

No new nuclear-related UN Security Council sanctions.

No new EU nuclear-related sanctions.

The U.S. Administration, acting consistent with the respective roles of the President and the Congress, will refrain from imposing new nuclear-related sanctions.

Establish a financial channel to facilitate humanitarian trade for Iran's domestic needs using Iranian oil revenues held abroad. Humanitarian trade would be defined as transactions involving food and agricultural products, medicine, medical devices, and medical expenses incurred abroad. This channel would involve specified foreign banks and non-designated Iranian banks to be defined when establishing the channel.

This channel could also enable: transactions required to pay Iran's UN obligations; and, direct tuition payments to universities and colleges for Iranian students studying abroad, up to an agreed amount for the six month period.

Increase the EU authorisation thresholds for transactions for non-sanctioned trade to an agreed amount.

Elements of the final step of a comprehensive solution*The final step of a comprehensive solution, which the parties aim to conclude negotiating andcommence implementing no more than one year after the adoption of this document, would:

Have a specified long-term duration to be agreed upon.

Reflect the rights and obligations of parties to the NPT and IAEA Safeguards Agreements.

Comprehensively lift UN Security Council, multilateral and national nuclear-related sanctions, including steps on access in areas of trade, technology, finance, and energy, on a schedule to be agreed upon.

Involve a mutually defined enrichment programme with mutually agreed parameters consistent with practical needs, with agreed limits on scope and level of enrichment activities, capacity, where it is carried out, and stocks of enriched uranium, for a period to be agreed upon.

Fully resolve concerns related to the reactor at Arak, designated by the IAEA as the IR-40. No reprocessing or construction of a facility capable of reprocessing.

Fully implement the agreed transparency measures and enhanced monitoring. Ratify andimplement the Additional Protocol, consistent with the respective roles of the Presidentand the Majlis (Iranian parliament).

Include international civil nuclear cooperation, including among others, on acquiring modern light water power and research reactors and associated equipment, and the supply of modern nuclear fuel as well as agreed R&D practices.

Following successful implementation of the final step of the comprehensive solution for its fullduration, the Iranian nuclear programme will be treated in the same manner as that of any non-nuclear weapon state party to the NPT.

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